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The global economic recovery is under way, supported by continued improvements in fi nancial conditions and stronger domestic demand growth in many emerging-market economies.

The results of the winter survey provide some evidence that confidence in the recovery is growing. While the balance of opinion on future sales is little changed, and respondents still expect the recovery to be gradual, more firms are planning to increase investment spending and employment than in the previous two surveys.

Causes and consequences of declining inflation persistence in Canada; the evolution of capital flows to emerging-market economies (EMEs) and the need for EMEs to implement policies that support capital flows; making bank notes accessible for Canadians living with blindness or low vision, sharing assessments of the suite of accessibility features on the current series of bank notes and plans for the next series.

The survey results point to the stabilization of overall lending conditions during the fourth quarter of 2009, following a number of consecutive quarters of credit tightening for business borrowers (Chart 1).

Conditions in the international financial system have improved considerably since June in response to the forceful actions taken by policy-makers around the world.

FSR Highlights - December 2009